WEB-BASED PROPERTY ANALYSIS TOOL EMPOWERS THE INDUSTRY
The property professional’s demand for greater and immediate access to critical market data for use in valuations, models and analyses has led to the introduction of a new suburb trends analysis tool by the South African Property Transfer Guide (SAPTG).
SAPTG’s new addition to its comprehensive web-based property market information service empowers the property professional to instantly gain suburb summations in the form of price trends over the past one, three or five years and the median value of prices being commanded.
“The property professional is constantly looking for real time access to current and relevant information to supplement their own research or to provide their clients with sound recommendations. The greatest need for any property practitioner is to identify the key elements of an area quickly – where is the demand and what prices can be realistically commanded,” explains John Sikiotis, managing director of Knowledge Factory, developers and sole suppliers of SAPTG.
The new suburb trend analysis tool - available free to all 1800 valued subscribers – empowers SAPTG’s clients to compare a suburb’s current performance against its historical performance or against that of other suburbs in an instant.
“To ensure that the trends and analyses provided by this tool are not inappropriately influenced by undue factors, “unusual” property transfers have been removed from the underlying data prior to the statistical procedures being applied,” explains Sikiotis.
“In addition to this, we have separated the analyses into two main categories, being freehold and sectional title properties to further ensure that the analyses are relevant and not clouded by the inclusion of dissimilar property types. Each of these categories is, once again, segmented into a high value and low value price range to cater for the instance where there are both sales of “developed land” and “land only” in a suburb, or where there are two distinct price bands being evidenced.
“This will go a long way to making unreasonable valuations which create unrealistic expectations in the market, a thing of the past. Sound valuations are now a reality, given the backing of relevant and current information gleaned from sales statistics pertinent to that particular area,” adds Sikiotis.
The suburb trend analysis tool is the latest feature that SAPTG, the country’s leading web based information source in the property sector, has introduced. This complements its indepth 11-year history of Deeds Office data. SAPTG also has the only comprehensive comparative property market analysis tool in the marketplace.
SAPTG has a nationwide subscriber base of property professionals, which include estate agents, financial institutions, property valuers, auctioneers, property developers and the like.